Brick
For Sale
$830,000
1348 NICHOLSON Street NW, Washington, DC 20011
MULTI_FAMILY - Other - WASHINGTON, DC
Property Size2,640 SF
Lot Size0.13 Acres
Price / SF$314.39
Days on Market93
Property Features for 1348 NICHOLSON Street NW
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Elementary school
BRIGHTWOOD EDUCATIONAL CAMPUS
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
2,640 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
8096
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1935
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
Keller Williams Capital Properties · Keller Williams Realty
(202) 243-7700
Listed By:
Russell Carter · License #SP98377566
(202) 953-0777
Added: May 29
Changed: Aug 3
Last Checked: Aug 29 at 3:06AM
MLS# DCDC2265332
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1348 Nicholson Street NW is a four-unit brick quadplex built in 1935 and set on a 0.1278-acre lot. The building is described as well-maintained and uses hot water heating.
The property totals 2,640 square feet, with an emphasis on functional layouts across the units. The site also presents potential for expansion and repositioning, including the ability to add up to four rear parking spaces.
Situated in the 16th Street Heights neighborhood, the location is positioned near the 16th Street corridor and provides convenient access to public transportation, parks, restaurants, shopping, and neighborhood amenities.
The property totals 2,640 square feet, with an emphasis on functional layouts across the units. The site also presents potential for expansion and repositioning, including the ability to add up to four rear parking spaces.
Situated in the 16th Street Heights neighborhood, the location is positioned near the 16th Street corridor and provides convenient access to public transportation, parks, restaurants, shopping, and neighborhood amenities.
Key Highlights
- Four‑unit brick quadplex built in 1935
- 0.1278‑acre lot
- 2,640 square feet total
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,301
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$946,020
$946.0K
Cap Rate 7%
$675,729
$675.7K
Cap Rate 9%
$525,567
$525.6K
Market Conditions
NOI Build-Up for 2,640 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$71.3K $27.00/SF
− Vacancy
−$3.7K −$1.40/SF
EGI
$67.6K $25.60/SF
− OpEx
−$20.3K −$7.68/SF
NOI
$47.3K $17.92/SF
Area
ZIP 20011
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$946,020
Cap Rate 7%
$675,729
Cap Rate 9%
$525,567
Alternative Uses
Best Use
Multifamily LT 5
$675.7K
$591.3K – $788.4K
NOI $47,301 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$600.3K
$525.2K – $700.3K
NOI $42,018 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,413 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
Explore this area
Business Placement
Demographics for 20011, DC
67,815
Population
29,658
Households
2.3
Avg Household Size
37
Median Age
55%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
12,558
Density / Sq Mi
$108,377
Median Household Income
$69,147
Median Earnings
$1,636
Median Rent
$722,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit brick quadplex built in 1935 with hot water heating.
Where is this quadplex located?
The property is located at 1348 NICHOLSON Street NW Washington, DC.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Four‑unit brick quadplex built in 1935; 0.1278‑acre lot; 2,640 square feet total
